The cryptocurrency market demonstrates various sentiments and trends regarding different assets. While Shiba Inu faces pressure, Chainlink presents positive signals, and the BlockDAG project attracts attention thanks to its successful presale.
BlockDAG and Its Prospects
The BlockDAG (BDAG) project aims to address scalability issues for large-scale financial use with its hybrid architecture that combines DAG and Proof-of-Work security. BDAG is capable of processing up to 15,000 transactions per second, making it suitable for global payments and financial networks. The presale has already raised over $386 million, and projections towards $7 by 2025 are starting to gain real traction.
Negative Dynamics of Shiba Inu
Shiba Inu is encountering clear signs of weakness. A confirmed 'Death Cross' on August 20 hindered its price below the 20-day moving average, and the asset is now testing support at $0.00001252. Should this break, the next support is expected at $0.0000118. A volume decline of more than 24% also indicates deteriorating trader sentiment, influenced by negative technical indicators.
Optimism Surrounding Chainlink
Chainlink is showcasing the opposite trend. LINK's price has risen to around $27, and on August 22, a 'Golden Cross' occurred. Analysts are forecasting potential targets at $30 and even $33.75. With increased whale accumulation, trading volume for tokens has impressively surged.
Shiba Inu and Chainlink present striking examples of contrasting trends in the cryptocurrency market. BlockDAG stands out due to its technological foundation and successful fundraising efforts. Potential institutional adoption of this project could lead to significant changes in its market value.
